The poker world is stunned by news of an so-called $70-million bank fraud scandal and Ponzi that is possible scheme well involving pro Bill Jordanou.
Just What would make a successful poker pro danger everything by getting taking part in a massive, multimillion dollar bank fraud and Ponzi scheme plot? That is the question many are now asking regarding poker that is australian Bill Jordanou, whom is under investigation by Victoria police for his alleged role in a bank fraud that continued for years, based on reports.
While information on the reported Ponzi scheme are sparse, the $70 million bank fraud operation was reportedly carried away with Jordanou’s business partner, Robert Zaia, 45. The 2 allegedly ensnared Zaia’s wealthy clients, via his accountancy firm Zaia Arthur & Associates, into an undetailed Ponzi scheme, while simultaneously forging bank documents to secure loans, at times in Zaia’s customers’ names, which they then comingled with property and development loans additionally they received from the bank, for projects that either never ever existed or were never ever started.
Bank Holds Victims Hostage
But the caper gets even crazier from here. The bank employed for all these transactions was Australia’s biggest: Commonwealth Bank. That bank happens to be holding Zaia’s allegedly scammed customers hostage on the loans secured in their names, without their authorization. Certainly one of thes Continue reading